Monday, February 2, 2009

A Small Shift

In an effort to move slightly away from poker and also to hopefully have a more often posted blog, I have decided to add some non-poker thoughts if and when I have them. Essentially, this is an attempt to make my blog a normal blog. Bear with me.

So as some of you may know, I am currently applying for graduate school in financial engineering and/or mathematical finance. I have been more concerned with these topics as of late our economy continually spirals into oblivion. Now this may be my naivete talking, but the #1 goal of Alan Greenspan during the very prosperous golden age of economics during the late 1990s (under Bill Clinton) was to pay down the deficit. Clinton moved quickly on this topic and the deficit was under control quite early in his presidency. From there on out, we had a healthy surplus and the biggest quibbles of the government were how to spend the extra money. A great set of problems to have.

But now, the current national deficit is larger that it has ever been (by far! Debt Clock now) and we are still going to be deficit spending with the new stimulus package not to mention the still mounting war costs of Iraq and Afghanistan. Personally, I agree with Mr. Greenspan in that paying off the national debt is the foundation of a solid, healthy economy. That being said, we cannot start paying off the debt while banks are failing, houses are still being foreclosed upon, and businesses are receiving a fraction of the consumer traffic they need in order to survive. So I look forward to seeing what transpires and how we as a nation can pull our heads out of our asses despite how far the Bush administration's foot has kicked it up there.

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